MAA Takaful is a result of a strategic joint venture between MAA Group Berhad (“MAAG”) – [Formerly known as MAA Holdings Berhad] and Solidarity Company BSC (C) of Bahrain, one of the leading companies in the Arab world.
On 21 February 2006, a Joint Venture (JV) Agreement was signed with Solidarity, to form a JV company called MAA Takaful to carry on the Takaful business.
On 3 March 2006, Bank Negara Malaysia granted approval for a new Takaful licence for the joint venture of MAAG and Solidarity. On 2 May 2006, MAA Takaful was incorporated with a paid up capital of RM100 million and licensed on 1 July 2007 as a composite Takaful Operator. Today, MAA Takaful has an agency force of over 10,000.
MAAG holds 75% equity interest in MAA Takaful while Solidarity holds 25%.
MAA Takafulink is the FIRST Regular Premium Investment Linked product to declare surplus sharing in 2009. And, yet again we will declare a surplus sharing in 2010, 2011 and 2012.
Based on Lipper & CIMB Principal report. All our 3 Takafulink Investment Linked funds (Growth, Balance & Income Fund) were ranked No. 1 in 2010.
We are the FIRST Takaful Company that has an Investment Linked "Flexi Fund".
We are the FIRST Takaful Company that offers coverage for 46 Critical Illness.
While other takaful operators, generate losses in the first 5 to 8 years of their operations. MAA Takaful is the FIRST and only company, which has generated profits, from its SECOND year of operations in 2009.
MAA Takaful is the FIRST company to not only make a profit in the third year of operation in 2010. But, it is the FIRST and only company to make profit with no carry forward losses.
MAA Takaful is the FIRST Takaful company in the World to have a comprehensive agency training program that is World Standard - jointly develop with LIMRA USA andCERT.